what is mean by economic development what are the basis to mejocering economic development of a country?
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Economic development means the rate of production is greater than the rate of increase in population and the rate of growth of GDP is high enough to fulfil the basic needs of the population. Two bases of measuring development of a country are: (i) Average or per capita income.
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the economic study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
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